Omnicell, Inc. (NASDAQ:OMCL – Get Free Report) fell 4.1% during trading on Wednesday . The stock traded as low as $43.03 and last traded at $43.10. 169,935 shares were traded during mid-day trading, a decline of 67% from the average session volume of 520,760 shares. The stock had previously closed at $44.92.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Omnicell from $26.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. StockNews.com raised shares of Omnicell from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Barclays raised shares of Omnicell from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $26.00 to $39.00 in a research note on Friday, August 2nd. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of Omnicell in a research note on Monday, July 15th. Finally, JPMorgan Chase & Co. boosted their target price on Omnicell from $26.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.83.
Omnicell Price Performance
The firm has a market capitalization of $1.97 billion, a P/E ratio of -97.65, a price-to-earnings-growth ratio of 47.22 and a beta of 0.83. The company has a current ratio of 2.45, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $38.17 and a 200-day moving average price of $31.96.
Omnicell (NASDAQ:OMCL – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.37. Omnicell had a negative net margin of 1.92% and a positive return on equity of 2.52%. The business had revenue of $276.80 million for the quarter, compared to the consensus estimate of $254.41 million. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, analysts expect that Omnicell, Inc. will post 0.64 earnings per share for the current year.
Hedge Funds Weigh In On Omnicell
Hedge funds have recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in shares of Omnicell by 2.9% during the second quarter. Arizona State Retirement System now owns 12,853 shares of the company’s stock valued at $348,000 after purchasing an additional 357 shares during the period. Texas Permanent School Fund Corp boosted its position in Omnicell by 1.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 39,630 shares of the company’s stock valued at $1,158,000 after buying an additional 479 shares during the period. Diversified Trust Co grew its stake in Omnicell by 3.3% in the 2nd quarter. Diversified Trust Co now owns 15,364 shares of the company’s stock worth $416,000 after acquiring an additional 494 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Omnicell by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 23,100 shares of the company’s stock worth $625,000 after acquiring an additional 600 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of Omnicell by 7.4% during the first quarter. ProShare Advisors LLC now owns 9,076 shares of the company’s stock valued at $265,000 after acquiring an additional 626 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.
About Omnicell
Omnicell, Inc, together with its subsidiaries, provides medication management solutions and adherence tools for healthcare systems and pharmacies the United States and internationally. The company offers point of care automation solutions to improve clinician workflows in patient care areas of the healthcare system; XT Series automated dispensing systems for medications and supplies used in nursing units and other clinical areas of the hospital, as well as specialized automated dispensing systems for operating room; and robotic dispensing systems for handling the stocking and retrieval of boxed medications.